G7 Focuses on Securing Rare Earth Supply Chains Amid Growing Demand
The Group of Seven (G7) is concentrating efforts on securing and diversifying supply chains for rare earth elements, as highlighted in a report developed to inform G7 discussions. The report emphasizes the increasing importance of rare earth elements in technologies such as electric vehicles, AI data centers, robotics, and defense systems. Demand for magnet rare earths, crucial for high-performance permanent magnets, has doubled since 2015 and is projected to increase by more than 30% by 2030. The report calls for new projects, partnerships, and policies to address supply chain risks, aligning with the G7's broader agenda of ensuring secure and diversified supply chains for essential materials. 
